Given the Following Data Which of the Following Depicts the Proper Account Balance After

question 50

Multiple Choice

Given the following data: $\begin{array} { | l | r | } \hline\text { Ending inventory at cost } & \$ 62,000 \\\hline \text { Ending inventory at net realizable value } & 61,000 \\\hline \begin{array} { c } \text { Cost of goods sold (before consideration of the } \\\text { lower-of-cost-and-net-realizable-value rule) }\end{array} & 104,000 \\\hline\end{array}$ Which of the following depicts the proper account balance after the application of the lower-of-cost-and-net realizable value rule?

• A)Cost of goods sold will be $105,000.
• B)Cost of goods sold will be $104,000.
• C)Cost of goods sold will be $61,000.
• D)Ending inventory will be $62,000.

Understand the difference between controlling and organizing in the management process.

Differentiate between effective and efficient communication.

Recognize the significance of credibility, trust, and respect in effective communication.

Identify factors that interfere with the effectiveness of the communication process.

---

Definitions:

Earnings

The amount of profit that a company produces during a specific period, typically reported as net income.

Capital Gain Yield

The aspect of the total gains from an investment that derives solely from its rise in price, without accounting for dividends or interest received.

Required Rate

The minimum return an investor expects to achieve on an investment.

Dividend Yield

A measurement comparing the yearly dividends issued by a business to its current market share price.